Proposal Process

Overview

The community of POOL holders makes decisions through governance proposals. Proposals are accepted or rejected using an onchain voting process. Anyone, who holds or has delegated >10,000 POOL, can submit a proposal to PoolTogether governance.

All proposals should be submitted as one of the valid proposal types stated below and follow the outlined proposal process:

1. Request for Comments [RFC]

2. PTIP / PTBR

3. Onchain Proposal

   • Voting

   • Implementation

   • Defeated Proposals

Recommended timeline

The following timeline is recommended and should be considered when creating a proposal.

• RFC: 5 days (minimum)

• PTIP/PTBR: 24 hours (minimum)

• Submit onchain: 5 days (does not vary)

Note: This timeline can vary based on community approval.

1. Request for Comments [RFC]

All major discussions should start on the governance forum to be reviewed by anyone in the PoolTogether community.

• Submitted as a new forum discussion in the appropriate category.

  • New topics auto-populate with the corresponding proposal template

• Marked as Request for Comments by adding [RFC] to the title.

• Follow the forum title format as stated for the proposal type.

Once submitted, the forum discussion should be open for feedback from the community for at least 5 days (assuming it is well-formed).

• If the proposal does not get explicit approval or is still highly contested, the proposer should -continue to seek feedback from the community and submit an amended proposal.

• If the proposal has strong support, the proposer can create a corresponding PTIP/TBR.

2. PTIP / PTBR

After applying potential community feedback to the proposal, the proposer should:

• create a new forum discussion in the appropriate category
• flag the RFC-thread to be locked

• state the changes made to the initial RFC in the finished proposal

and leave the topic open for at least 24 hours, before submitting the proposal onchain.

3. Onchain Proposal

When it comes time to create an onchain proposal, the proposer must:

1. Create a new onchain proposal, matching the specification outlined in the forum post
2. Update the forum post with links to the onchain proposal and snapshot vote

The details of the PoolTogether Governance system are described here.

Voting

After a proposal is submitted onchain a 5-day voting period begins. A proposal succeeds, if after five days

• the majority of votes are in favor (approval threshold of 51%)

• AND at least 100,000 votes have been cast in favor (Quorum of 1%).

Implementation

When a proposal succeeds, the proposer (or any other person) can queue Proposal.

There is a two day timelock before the proposal is actually implemented. After the timelock has expired, the proposal can be executed.

What if a proposal is defeated?

In case a proposal does not pass a governance vote, the proposal will not be executed. If the proposer wishes to iterate on a proposal that has been rejected, they should:

1. Create a new proposal thread on the Forum.

2. Include a link to the first proposal that did not pass.

3. Clearly identify what has changed in the new proposal.

Footnotes

• If a proposer does not hold their votes throughout the full time of the onchain proposal, then the proposal can be canceled by anyone.

• Urgent, security-related PTIPs may progress to an onchain proposal immediately.

Proposal Types

Proposal Type	Forum Title Format	Description	Quorum	Approval Threshold
PTIP PoolTogether Improvement Proposal	PTIP-<Id>: eg. PTIP-89:	Process for changing the protocol	1% (100,000 POOL)	51%
PTBR PoolTogether Budget Request	PTBR-X: Project/Team Name	Process for coordinating treasury funds	1% (100,000 POOL)	51%

Acknowledgements

The PTIP process is a modified version of Badger Improvement Proposals and Yearn Improvement Proposals.